Global Cyber Security Consulting Services Market Growth (Status and Outlook) 2024-2030
Cyber Security Consulting Services market size was valued at US$ 31810 million in 2023 and is estimated to reach US$ 74790 million by 2030 with a CAGR of 13.0% during review period
If you purchase this report now and we update it in next 100 days, get it free!
According to Publisher’s latest study, the global Cyber Security Consulting Services market size was valued at US$ 31810 million in 2023. With growing demand in downstream market, the Cyber Security Consulting Services is forecast to a readjusted size of US$ 74790 million by 2030 with a CAGR of 13.0% during review period.
Market Overview
What's Inside a Bonafide Research`s industry report?
A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
The research report highlights the growth potential of the global Cyber Security Consulting Services market. Cyber Security Consulting Services are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Cyber Security Consulting Services. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Cyber Security Consulting Services market.
Cybersecurity consulting identifies problems, evaluate security issues, assess risk, and implement solutions to defend against threats to companies’ networks and computer systems. Cyber security consulting services can reduce risk exposure, enhance enterprise and government security.
In recent years, with a deeper digitalization, governments are paying more attention to cyber security. Therefore, professional consulting service is expected to gain a rapid growth.
Make this report your own
Have queries/questions regarding a report
Take advantage of intelligence tailored to your business objective
Manmayi Raval
Research Consultant
Key Features:
Market Drivers: Growing Cyber Threats: As businesses look to strengthen their defenses and safeguard sensitive data, the rise in cyberattacks such as phishing, ransomware, and data breaches is increasing demand for cyber security consulting services.
Strict Regulatory Compliance: Organizations must invest in cyber security consulting to ensure compliance and avoid heavy fines under strict data protection standards like GDPR, CCPA, and PCI DSS.
Initiatives for Digital Transformation: Due to the rising attack surface caused by IoT deployment, cloud adoption, and remote work trends, businesses are continuing to transition digitally, necessitating the need for cyber security expertise to protect infrastructure and digital assets.
Don’t pay for what you don’t need. Save 30%
Customise your report by selecting specific countries or regions
Cybersecurity Skills Gap: Due to a lack of qualified cyber security specialists, businesses are turning to consulting firms with specific knowledge and experience to handle their security requirements.
Challenges: Changing Threat Environment: As attackers create more advanced tactics, cyber dangers are always changing. Because of this, it is difficult for consultants to keep ahead of novel and developing dangers.
Skills Shortage: The number of qualified cyber security specialists is significantly lower than the market. Due to this disparity, consulting firms find it challenging to provide the high demand for their services and excellent competence.
Complicated Regulatory Environment: It might be difficult to navigate the many and various regulatory environments found in different places. It takes a lot of work and resources to ensure adherence to various standards and laws.
Budget Restrictions: Many businesses are unable to spend sufficiently in thorough cyber security measures due to financial constraints. This may result in a less-than-ideal security posture and heightened susceptibility to intrusions.
Integration with Current Systems: It can be difficult and time-consuming to integrate new security solutions with the current IT infrastructure. It's difficult to ensure smooth integration while upholding strong security.
Market Forecasts and Future Outlook: Growing Need for Cyber Security Expertise: As cyber threats persist in their escalation, there will likely be a greater need for professional cyber security consulting services, which will propel market growth.
Integration of Advanced Technologies: By incorporating cutting-edge technologies like blockchain, AI, and machine learning into cyber security consulting, service efficacy and capacities should increase.
Emphasis on Proactive Security methods: To detect and reduce risks before they become incidents, the industry will witness a trend toward proactive security methods like threat hunting and predictive analytics.
Opportunities: Managed Security Services: Consulting firms can improve their value proposition by offering continuous monitoring, threat detection, and incident response services in response to the increased demand for these services.
Sector-Specific Solutions: Industry-specific threats and compliance requirements can be successfully addressed by creating customized cyber security solutions for particular sectors, such as healthcare, banking, and critical infrastructure.
Adoption of Emerging Technologies: Taking use of cutting-edge technologies like automation, artificial intelligence, and machine learning can give you a competitive edge by strengthening incident response capabilities, streamlining security operations, and improving threat intelligence.
Small and Medium Businesses (SMEs): As SMEs become more aware of the need to safeguard their digital assets yet frequently lack internal knowledge, there is a developing demand for cyber security consulting among SMEs.
Global Expansion: With the growing demand for cyber security solutions, reaching out to developing markets in areas like Asia-Pacific, Latin America, and the Middle East & Africa can help businesses reach new clientele.
Market Segmentation:
Cyber Security Consulting Services market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value. Vulnerability assessment and penetration testing, security audit, incident response and compliance testing are main types of the service, in which vulnerability assessment and penetration testing makes up most with a share about 30%.
Cyber security consulting services are required in government, internet and retail, military, operator, finance, manufacturing, education, energy and medical, etc. Among them, government gains the highest share of 20% around.
1. Segmentation by type
• Vulnerability Assessment and Penetration Testing
• Security Audit
• Incident Response
• Compliance Testing
• Others
2. Segmentation by application
• Government
• Operator
• Finance
• Manufacturing
• Education
• Energy
• Medical
• Internet and Retail
• Military
• Others
Regional Insight: North America: Due to its high cyber danger levels, strict regulatory requirements, and abundance of top cyber security companies, North America leads the world market for advisory services related to cyber security.
Europe: In order to handle the expanding cyber dangers and adhere to GDPR rules, European nations such as the UK, Germany, and France are investing in cyber security consulting services.
Asia-Pacific: Driven by rising cyberthreats, quickening digitization, and government efforts to bolster cyber defenses, the Asia-Pacific area offers rich economic prospects.
Latin America: Due to growing rates of cybercrime and regulatory pressure, Brazil and Mexico are becoming important markets for cyber security consulting services. The region is still experiencing consistent growth in this area.
Middle East & Africa: The necessity to safeguard vital infrastructure against cyberattacks and government expenditures in cyberdefense have led to an increase in demand for cyber security consulting services in this region. North America is the largest segment by region, accounting for over 40%, followed by Europe (30%) and Asia-Pacific (20%).
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: Global key suppliers of cyber security consulting services include Deloitte, EY, PwC, KPMG, IBM and Accenture, etc. Top 5 giants make up over 50% of the market.
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Deloitte
• EY
• PwC
• KPMG
• IBM
• Accenture
• Booz Allen Hamilton
• Mandiant
• Capgemini
• Protiviti (Robert Half)
• RSM International
• Yokogawa
• H3C
• Venustech
• Topsec
• NSFOCUS
• QIANXIN
• Kreston
• Hillstone Networks
• North Laboratory
• Tophant
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Cyber Security Consulting Services Market Size 2019-2030
2.1.2 Cyber Security Consulting Services Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Cyber Security Consulting Services Segment by Type
2.2.1 Vulnerability Assessment and Penetration Testing
2.2.2 Security Audit
2.2.3 Incident Response
2.2.4 Compliance Testing
2.2.5 Others
2.3 Cyber Security Consulting Services Market Size by Type
2.3.1 Cyber Security Consulting Services Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Cyber Security Consulting Services Market Size Market Share by Type (2019-2024)
2.4 Cyber Security Consulting Services Segment by Application
2.4.1 Government
2.4.2 Operator
2.4.3 Finance
2.4.4 Manufacturing
2.4.5 Education
2.4.6 Energy
2.4.7 Medical
2.4.8 Internet and Retail
2.4.9 Military
2.4.10 Others
2.5 Cyber Security Consulting Services Market Size by Application
2.5.1 Cyber Security Consulting Services Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Cyber Security Consulting Services Market Size Market Share by Application (2019-2024)
3 Cyber Security Consulting Services Market Size by Player
One individual can access, store, display, or archive the report in Excel format but cannot print, copy, or share it. Use is confidential and internal only. Read More
One individual can access, store, display, or archive the report in PDF format but cannot print, copy, or share it. Use is confidential and internal only. Read More
Up to 10 employees in one region can store, display, duplicate, and archive the report for internal use. Use is confidential and printable. Read More
All employees globally can access, print, copy, and cite data externally (with attribution to Bonafide Research). Read More